Via Yahoo Finance

PARIS (Reuters) – Lazard <LAZ.N> said on Sunday it had appointed Louis Girodolle as CEO of Lazard Investment Banking in France, just a week after its chairman and CEO Matthieu Pigasse resigned.

For the 171-year-old bank this is a critical appointment as it needs to retain clients and market share in Europe after Pigasse’s departure as well as cope with a slowing pipeline of merger and acquisition (M&A) deals.

The firm has come under increasing pressure from U.S. boutique banks including Evercore <EVR.N> and Centerview which are looking to open offices in Paris and have poached some of Lazard’s dealmakers including Nicolas Constant.

Girodolle joined Lazard in 2007 and he primarily advises companies on M&A and financial transactions. Previously, he worked at the French APE state holding company and at the finance ministry.

Lazard said in a statement it had also appointed Charles-Henri Filippi and François Kayat as co-chairs.

Filippi joined the firm in 2018 from Citigroup and has also worked at HSBC and Credit Commercial de France. He began his career in the French civil service and government departments.

Kayat joined Lazard in 2010 from Credit Agricole CIB. Previously, he chaired the European Mergers and Acquisitions Group of Credit Suisse First Boston.

Lazard, founded in New Orleans in 1848 by three French brothers, opened its Paris Investment Banking office in 1854.

Today, it is one of the firm’s principal investment banking offices, and the base of several global investment banking businesses, in particular sovereign advisory, Africa/Middle East and Central & Eastern Europe advisory, Lazard said.

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(Reporting by Gwenaelle Barzic; Writing by GV De Clercq; editing by David Evans)